Supervalu and Unified Grocers said that the United States Federal Trade Commission has granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, with respect to their merger.
In the fourth quarter, following its plans to acquire Unified Grocers, Supervalu gained momentum in its wholesale business while its retail division slipped.
Save-A-Lot has appointed Kenneth McGrath as chief executive officer, effective April 21.
Supervalu and Unified Grocers have entered into a definitive merger agreement that calls for Supervalu to acquire Unified Grocers in a transaction valued at approximately $375 million.
Supervalu has named Anne Dament svp/retail, merchandising and marketing.
Supervalu posted a net loss in its third quarter, following the recent sale of its Save-A-Lot business.
Supervalu has finalized the previously announced sale of its Save-A-Lot business to an affiliate of Onex Corporation for $1.365 billion in cash, subject to customary closing adjustments.
Following Supervalu’s sale of its Save-A-Lot division, the supermarket retailer posted a soft second quarter, with flat earnings and a decline in sales.
Supervalu has entered into a definitive agreement with an affiliate of private equity firm Onex Corp. to sell its Save-A-Lot discount grocery business for $1.37 billion in cash.